St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-04-18
THE STOCK EXCHANGE.
Needs of such an Institution at This
Time.-Nen Who Are Behind the
Undertak king.

Needs Oh Sucn an 1hSusuttOn AT ms
Time--Men Who Are Behind the
Undertaking..
THE movement towards establishing a
permanent and influential stock exchange
in this city has now progressed so far as to
put its successful accomplishment almost
beyond peradventure," said one of the men
who has been pushing the enterprise yeSter-
day. The interest which has been awak-
ened amongst the most prominent citizens
of ST. Paul could easily be seen during
the past week, and whenever the subject
was preached. new ideas of its utility were
heard, and establishment expressed that one
had not been established here before.
More and more is comprehended by the
advantage of having an ascertained value to
local securities both by buyer and loaner,
and a ready market by seller.
The interest also in mining operations,
due to past success in the iron fields of the
surrounding territory, has opened the eyes
of many st. Paul people, and new COM
panies are organizing or being projected
every day. 1t is commonly believed that
st. Paul people are not interested much i'll
mining properties. That this is mistaken
idea has been developed during the time
the exchange has been in its inception, by
Tile ACTUAL hllONlcQS6l W tHC COllVldly
was picked up by its projectors.
Never has the outlook been more ia
vorable for a prosperous year than the pres
ent one The iron industries, the pulse of
trade, are in a most hourishing condition.
1t is estimated by the Chicago Journal of
Commerce that over 80, 600 miles of rails
will be required for new roads and the re-
laying of old ones this year, necessitating
some 3, 500, 600 tons in all. This means
1000, 600 tons of ore, and as this is only
one of many uses for iron in these days any
fears that may be entertained of an over
supply by reason of increased developments
in the ore fields may well be dissipated.
The districts which produced the most
Bessemer ores in the United States last
year-Michigan. Wisconsin and Minnesota
only put out 3, $50, 900 tons. AS the for
ests are depleted the iron fields are imper-
ceptibly taking their places. Improved
methods of treating and handling and re-
ducing low grade gold and silver ores has
greatly minimiZed risk in mining venture.
Eastern capitalists are approaching this to
an alarming extent, for the future welfare
of those more favored by propinquity to
these mineral fields, and it behooves us, to
bestir ourselves if we would profit by the
gifts which nature has SO laviShly bestowed
upon u.s."
Below is list of names of those who
have signified an intention of j ming the
stock exchange. Their names b speak its
character:
James H. Davidson, A. NJ. Peabody, A. NJ.
Drake, ]. Q. Haas, Charles E. Fowler, A. NJ.
Levy, George G. Olcott, J. K. Bacon, J. H.
Burwell. R. c. Munger, r. NJ. Newport Son,
J. c. Maxwell, Henry A. Castle, Ralph w.
Cavenaugh, G. V. Bacon, R. NJ. Fulton, A G..
Postlethwaite, W. 5. Bowen Co., G. A.
Stinson, John NJ. Lynch, Phillip Reilly,
George r. Finch, J. N. Rodgers,
Silas L. Wright, A. G. Flournoy, ]. A. Scott,
E. G. Handy, James l. Jellett, Charles Nc
Irath, George NJ. Kirkner. Fred j. Bletcher,
John G. Hinkel, Garry ID. NJ. Shermsn. Fl.
w. Wack. 7. Taylor, John Espy, NJ. P. Gil
bert, w. B. Stephens, A. Delany, A. B. Rob-
erts S. A. Beecher,W. B. Evans,C A. Hawks,
e. S. Norton, r. +. Marvin, James B. Hubbef.
Rush B. Wheeler. E. Il. Williams, A. NJ. Do
herty, S. Lee Davis NJ. D. Miller, George w
Laugevin, r. S. Wharton, H. p. Hall, E. N
Saunders, NJ. NJ. Gasser, A. H. Hornsby, W .
r. Russell. Gustave Heineman, HID. Mathews,
a. K. Murray, R. G. Mcdowell, Charles NJ.
Smith, Theo Draz. Gustav Willius,
Joseph Jockey, Lane K. Stone,
Edmund Rice, Jr, F. A. Seymour,
p. NJ. Rose, H. c. McNair, +. G. Ludlow, w.
H. Knapp II. II. Hamilton. W. n. Vigners, E.
A. Chase. Geo. H. McCanmon, Chas. L. Dun
bar, 1hos. Stillman, Gilman & Co., S. S.
Stokes, S. ]. Little, D. Kribs, c. B. Palmer,
E. T. Sumwalt, J. E. Raymond, A. W. Hap.
pock.